Lubrication System Market was valued US$ 7510 Mn in 2017 and is estimated to reach US$ 1257 Mn by 2026 at a CAGR of about 6 % during a forecast period.
Major Industries such as cement plants, steel plants, and paper plant prefers lubrication systems, as the number of lubrication points in these plants greater in number. Lubrication system reduces the time taken to lubricate several machines also eliminates any errors caused by manual lubrication these advantages drive the lubrication system market. A frequency of lubrication, the number of lubrication points, and operating expenses incurred for manual labor are the factors considered for lubrication system installation.
Lubrication System Market
Automatic and manual are two systems of lubrication. For manual lubrication, equipment needs to be shut down for lubrication, increases complexity and inconvenience, accessibility to lubrication points is difficult, also has a significant impact on workers safety. Consistency and accuracy are issues faced with manual lubrication which further creates additional challenges. Automatic lubrication ensures that every point receives a correct amount of lubrication. To provide accurate control of the amount of lubrication supplied, an automatic lubricator is designed to supply a small quantity of clean grease oil to a lubrication point on a regular basis.
Lubrication system finds its application in cement plants, steel industry, mining & mineral processing, paper & printing, automotive, industrial machine & machine tools, construction machines. Steel Industry and cement plants require time to time lubrication to smoothly run the manufacturing process hence are major application segment of the lubrication system.
Byline type lubrication system market constitutes of single line lubrication systems, dual line lubrication systems, multi-product lubrication systems, series progressive, circulating oil, oil & air. Single line lubrication system is dominating the market. Easy installation, ease of expansion, and applicable for all kind of lubricants are some of the main advantages of using single-Product automatic lubrication systems.
North America, Europe, Asia Pacific, Middle East & Africa and Latin America are regional segments of lubrication system market. The Asia Pacific is leading region in a lubrication system market. Rapid industrialization and presence of various production companies in the Asia Pacific are expected to drive the market in the region.
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